Import Substitution as a Crucial Economic Factor

18 November 2022
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A flexible and pragmatic import substitution strategy underlies the successful development of all spheres of Turkmen economy. Its successful implementation contributed to the continued downward trend of imports, since the increase in domestic production has enabled to reduce the imports of many products, consumer goods and foodstuffs.

In recent years, Turkmen producers have significantly expanded their presence in the market. Such large-scale work allows creating new industrial areas for Turkmen economy and expanding consistently the list of domestically produced goods able to compete in the market. Domestic manufacturers have made great progress in all sectors of the economy and consistently expand the list of goods, contributing to saturating the domestic commodity market and enhancing the export potential of our country.

Batyr BERDIYEV,
Head at the Department, Directorate of the Study of Commodity Circulation in Internal and External Markets, Ministry of Trade and Foreign Economic Relations of Turkmenistan. Photo collage: Vyacheslav SAHAROV
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